I just bought a 92 with a 305 in it and was running great till I decided to see what it had on a backroad and it died when I started slowing down. So I took a look under the hood and the right side valve cover gasket is bubbling out oil some (not just seeping out). No leaks underneath that I could tell because it was dark outside and I did not have a flashlight but nothing massive. It restarts fine and idles fine but if I give it gass or put it under load of the transmission on a uphill it dies. Could this lack of oil pressure cause the effects I described? Any help would be greatly appreciated.

 

Pictures of the engine may help. Make sure you have a PCV valve in one valve cover (check that it's not clogged), and a vent tube or breather in the other cover.
It sounds like you could be building up too much crankcase pressure. Something with your venting might be clogged, or non-existent.

 

I will try to get some pics taken tomorow.

 

Got some engine pics. Right side valve cover breather, and left side tube that goes to the throttle body. Are they TBI or carbureted stock? I havent looked at it in detail but I would guess TBI

 

That's a stock TBI setup, carb got phased out in the 80's. The engine is vented correctly, but make sure the PCV valve isn't gunked up. I don't see that as your problem though. Have you tried running the car with the air cleaner off to see what happens? Is the filter element packed with dirt? Or possibly the air horn inlet valve on the air cleaner isn't opening up? Rule out the air cleaner as a restriction, then go from there. Other possibilities for it killing are: loss of fuel pressure (bad pump or clogged filter), ignition coil overheating and puking out (I've had that happen twice before), or a bad ignition module. I'm not feeling an overheating ignition, because your engine starts right back up. From your description, my gut is telling me fuel starvation, unfortunately the TBI doesn't have a fitting to attach a gauge for checking pressure. I think replacing your fuel filter would be a good place to start.

 

what is that fluid on the intake manifold?

 

it is some thick oil like stuff that looks like it was spilt on it but Im not sure exactly, it was there when I got it. When it started having issues I thought it just had a governer at that speed but it died actually. But when I restart it and give it gas it kind of lopes and then dies. If that gives you a better idea

 

compression testers, vacuum gauge, a spark plug wrench and a little oil squirter are cheap

get to it

 

So Im replacing the valve covers and got the drivers side done and was needing some advice on the passenger side cover. It has this thing over it that has a pipe ging to the back of a pump looking thing (bottom left pulley in pic) but one of the tubes going off of the thing goes to small pipes connected to each exaust manifold. So I am thinking EGR stuff? I need to get a hanes for it.

 

Pluss I started it to move it in idle, and I put it in park and I could rev it now. I also need to get a tester kit for exaust air in the radiator to check for head gasket leaks. I know there are other ways that I have the stuff for but I dont have one of these simple kits.